Assetco and Bank of Ireland to acquire Davy for $518m.

Assetco, a firm involved in acquiring, managing, and operating asset and wealth management activities, and Bank of Ireland, a commercial bank operator, agreed to acquire Davy, a stockbroker, wealth manager, asset manager and financial advisor, for $518m. Ailmount Investments will divest its stake. “We see the continuation of the Davy brand and structure under the Bank of Ireland umbrella,” Francesca McDonagh, Bank of Ireland CEO.